Few people know about the pyramids of haredi (ultra-orthodox) free-loan societies (Gma”chim), charitable funds which do not necessarily rely on generosity of donors (whose numbers have diminished in the past couple of years), but which answer the question: how do haredim pay for the apartments that they buy for their large numbers of children.

To obtain money (tens of thousands of dollars) from a free-loan society, partly as a loan and partly as a grant, the average haredi borrower puts aside a much smaller sum (a few dozen dollars) toward the free-loan society when a child is born or shortly thereafter. In this way, money coming in from young parents immediately goes out to older parents who have to marry off a child. With the haredi population’s impressive growth rate (about 6% per year) the model has worked marvelously as the pyramid has a growing base.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977.
He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging.
Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes.
In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles.
His personal Alexander Technique website is Alexander90210.com.
Luke is the author of five books, including:
» The Producers: Profiles in Frustration
» Yesterday’s News Tomorrow: Inside American Jewish Journalism